🇨🇳 The Chinese Bull Run Betrayal: Is It Over?

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GM, with every slight dip, a little doubt creeps in.

Today, it came in the form of the Chinese stimulus, which just yesterday seemed to be the biggest thing since Covid, being weaker than expected. As a result, the Hang Seng index plunged about 9%, the worst single-day drop in 16 years. Another classic case of “buy the rumor, sell the news”? Sure looks like it.

Bitcoin is going through a minor retrace as of now as well, but until it trades back under around 60,000 dirty fiat dollars, one might view this as an opportunity rather than a selling point.

We might also get into trouble if the SPX breaks these areas, as CBS has demonstrated here. Just something to watch.

On the more degenerate side, let’s face it—there’s never a dull day in crypto when it comes to memes and drama.

For one, the Milady Twitter welcomed Alex Jones today as he retweeted an old tweet from Lukas. Second, Ansem painted another target on his forehead by hyping up Cardi B`s cat tweet just before she announced her new token launch… Oh, and Vitalik dropped an AI-generated bull post, right before moving another stash of ETH to exchanges.

Just another day in crypto…

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BRUME/WETH Uniswap 1H

This is a brand-new chart, so there is some risk here—ape accordingly! Brume is an Ethereum wallet (they say ‘for now’, so other chains may be supported soon) with built-in Tor privacy on board.

The project is fully crowdfunded, meaning no VCs are waiting to dump their pre-seed allocation on your head. It has a $10 m market cap, but based on the little market structure we have to go on here, it could be higher soon. ChainEDGE analysis shows a decent amount of ‘smart money’ wallets have bought it in the last two days.

NFA as per usual, please always do your own research.

Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!

Smart money movements for the day:

Is UNI Comeback Possible? 

Not to toot our own horn, but we called AAVE’s resurgence long before the social chatter started bubbling up with the price.

As mentioned before, essential catalysts around the elusive fee switch or changes in regulations (especially in the US) can suddenly transform the nature of how the native dApp tokens can function and, most importantly, capture and reflect value. 

A similar setup might be happening here with UNI. We`ve got a pretty much certain comeback of the fee switch proposal coming up in the form of either staking for certain jurisdictions, delegator fees, or the creation of a Uniswap chain or an L2, which is basically where AAVE is heading as well.

If we combine this speculative outlook with the fact that Uniswap v4 hooks, enabling custom logic to be added to liquidity pool cycles and making Uniswap a more efficient liquidity layer, there`s certainly a thesis to be watching here…

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The important bits.

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• Scroll (L2) - Releases token distribution details

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• Movement (L1) - Announces new game launch Moxyio

Even more important bits.

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• Buterin donates 100 ETH to Tornado developer’s defense fund

• Chinese stimulus halt might be bullish for Bitcoin

• Vitalik bull posts and deposits ETH to exchanges 

• Phantom wallet premiers on Base L2

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To save you doom scrolling.

Let`s hit a different vibe today. Our own Wisdom Dealer Jedi dropped something to think about today, and I believe little pieces of text wisdom as these hold a lot of value.

There’s no such thing as easy money.

Just yesterday, the whole timeline was buzzing about their memecoin hitting the billion-dollar mark. Today, they’re dumping at the first hint of a dip.

You won’t last in this brutal market unless you’ve got long-term resolve paired with a solid thesis.

When you feel that itch in your finger to hit the button, pause. Think again. And then once more. Are you just reacting, or are you making a deliberate move—a chess step in a much bigger game?

All I’m saying is, don’t let your animal instincts run the show while you’re trading animal tokens. Get serious.

stay safe homies,

Hix0n 🫡